Wikinvest Wire

Jim Cramer vs. Nouriel Roubini

Wednesday, April 08, 2009

Cramerica took another blow to the belly last night as Nouriel Roubini laid into the embattled CNBC host following on the heels of Cramer's disastrous run-in with Jon Sewart.

Just weeks after "The Daily Show" host Jon Stewart took Cramer to task for trying to turn finance reporting into a "game," famous bear economist Nouriel Roubini criticized Cramer on Tuesday for predicting bull markets.

"Cramer is a buffoon," said Roubini, a New York University economics professor often called Dr. Doom. "He was one of those who called six times in a row for this bear market rally to be a bull market rally and he got it wrong. And after all this mess and Jon Stewart he should just shut up because he has no shame."

Cramer, the host of CNBC's "Mad Money" show, recently wrote in a blog that Roubini is "intoxicated" with his own "prescience and vision" and said Roubini should realize that things are better since the stock market's recent bottom in early March.
Cramer said something about buying by retail investors being a big factor if stocks decline from current levels since they "can't afford to miss" another rally. One could argue that many investors can't afford not to sell into the current rally, given that many of them are taking an entirely new, much more pragmatic view of both their finances and the stock market.


Expat said...

Is post-apocalyptic America, Cramer and Ben Stein will not be dead. They will be dressed in silly outfits and forced to perform their "greatest hits" for the Mad Max-attired rulers of New Wall Street. (Think "Escape from New York" and the US president being forced to chant "You're the Duke of New York. You're A number one."

Or we maybe they will simply be lined up against the wall in a more traditional manner. Either is fine with me.

me said...

Another asshat on CNBC this morning was talking about not missing the big party. Santelli tore him apart. I turned it off before I had to listen to Forbes probabloy recommend tax cuts, whicfh if you have no income are meaningless.

I agree with Roubini, the next party is down.

Nor said...

I got to go with Crammer on this one, this recession is coming to an end !!

Repost this in a year…

P.S. Soros SUCKS!!!!

The U.S.A. is and will be the big kahuna for many more years to come, said...

This call by Cramer still sticks out in my mind. Back on July 30, 2008, he said:

"I am indeed sticking my neck out right here, right now, declaring emphatically that I believe the market will not revisit the panicked lows it hit on July 15, and I think anyone out there who's waiting for that low to be breached is in for a big disappointment and [they're] missing a great deal of upside... Stop waiting, buy the next dip because I think it might be the last big one."

For the record, the Dow Jones Industrial Average closed at 10,962.54 and the S&P 500 at 1,214.91 back on July 15, 2008.

As I write this, the Dow is trading at 7,993 and the S&P 500 at 844.

Plus, you gotta love Jimbo’s latest call as well:

"Jim Cramer Says Depression Over, Expects New Bull Market"

Fish Gone Bad said...

The same sheeple who watch Cramer also watch Sunday morning teleevangelists.

After being taken to task for shooting his mouth off, Cramer has apparently not learned anything and gone and done it again.

After all the housing foreclosures hammer the markets throughout the summer, Cramer can then claim another bottom.

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